The owners of the property we are purchasing are using a conveyancing solicitor in Shrewsbury who has recommended a preliminary contract with a non-refundable deposit of 5k. Is it wise to enter into such agreements?
This form of contract isn't common in Shrewsbury, conveyancers will often try and steer clients away from them as they divert attention from the main conveyancing focus and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no guarantee that just because the seller has entered into a lock out contract they will complete the sale with you. They may be in contravention of the agreement if they receive a big enough financial inducement to do so because a wronged purchaser with the benefit of a lockoutcontract will still have to establish consequential losses from the breach and these may not amount to the financial benefit that your vendor may secure by breaking the agreement, no matter how morally condemnable it undoubtedly is.
Do banks and building societies provide you with an approved list of Shrewsbury conveyancing solicitors? How do you know who is on the Yorkshire BS conveyancing panel?
Shrewsbury conveyancing firms themselves provide us confirmation that they are on the Yorkshire BS conveyancing panel as opposed to being supplied with a list from Yorkshire BS directly.
Can you clarify what the consequences are if my solicitor is expelled from the Yorkshire BS Conveyancing panel ahead of completing my conveyancing in Shrewsbury?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am the only recipient of my late grandmother’s estate with all property in now in my sole name, including the house in Shrewsbury. Conveyancing formalities meant that the Land Registry date was in September. I want to move. I do know about the CML six month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the property in September. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. How sensible a view lenders take of it, depend on the mortgage company as this provision is chiefly there to pick up on subsales or the wholesaling and assigning of properties.
Can I be sure that the Shrewsbury conveyancing solicitor on the TSB panel is any good?
When it comes to conveyancing in Shrewsbury obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor carrying out your conveyancing.
Our offer on a house in Shrewsbury has been agreed to, the vendors do however have a tied purchase. The sellers have put an offer on a flat, but it’s not yet tied up, and have viewings of other apartments in the pipeline. I have chosen a high street conveyancing solicitor in Shrewsbury. What should be my next step? At what stage do I apply for the mortgage with Virgin Money?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey, Shrewsbury conveyancing search costs, etc). First, you should check that your conveyancer is on the Virgin Money conveyancing panel. Concerning the next stages this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. In a buoyant market the majority of home buyers would apply for the mortgage with Virgin Money and pay for the valuation and only if it comes back ok would they pay their conveyancer to proceed with the conveyancing in Shrewsbury.
The deeds to our property can not be found. The lawyers who dealt with the conveyancing in Shrewsbury 4 years ago have long since closed. Will I be able to sell the house?
Assuming you have a registered title the information relating to your ownership will be retained by the Land Registry under a Title Number. It is easy to execute a search at the Land Registry, locate your house and order current copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will also normally retain a certified duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
I am selling my house. My former lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Shrewsbury if that makes things easier.
You should use our search tool to help you choose a solicitor for your conveyancing in Shrewsbury. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.